Streetbeat News

Earnings

MYNZ

Mainz Biomed announced positive topline results from a study evaluating novel mRNA biomarkers and a proprietary AI algorithm for colorectal cancer diagnostics, showing 92% sensitivity and 90% specificity. The study, which analyzed 690 subjects, including data from the ColoFuture and eAArly DETECT studies, demonstrated the potential to significantly improve early detection and treatment of pre-cancerous lesions.

Portfolio Pulse from Benzinga Newsdesk

April 25, 2024 | 1:30 pm

HON

Honeywell International's CEO announced during a conference call that the second half of the year is expected to be stronger than the first half.

Portfolio Pulse from Benzinga Newsdesk

April 25, 2024 | 1:28 pm

MSFT

Microsoft Corp (NASDAQ:MSFT) is in focus ahead of its fiscal third-quarter earnings report, expected to post earnings of $2.82 per share on $60.804 billion in revenue. Last quarter, Microsoft exceeded estimates with an 18% revenue increase year-over-year, driven by AI integration across its tech stack. The company anticipates a slight decrease in Microsoft Cloud gross margin and significant capital expenditure increases. Revenue growth forecasts include 10-12% for Productivity and Business Processes, approximately 15% for Office 365, mid-to-high single digits for Office Consumer and LinkedIn, and 18-19% for Intelligent Cloud. Ahead of the earnings, MSFT shares are down 3.11% at $396.33, influenced by broader market sell-offs and caution after Meta's post-earnings drop. Analysts remain positive, with price target adjustments reflecting optimism about Microsoft's performance.

Portfolio Pulse from Adam Eckert

April 25, 2024 | 1:27 pm

VRT

Vertiv Holdings Co (NYSE:VRT) reported a strong first-quarter financial performance with an 8% Y/Y increase in net sales to $1.64 billion, surpassing the consensus of $1.62 billion. Organic orders rose 60% Y/Y, driven by AI deployment demands. Adjusted EPS was 43 cents, beating the 36 cents consensus. Vertiv raised its 2024 guidance, with revenue now expected to be between $7.54 billion and $7.69 billion, and adjusted EPS between $2.29 and $2.35. Following the announcement, Vertiv's shares rose 6.8% to close at $84.57. Analysts from Oppenheimer and JP Morgan raised their price targets on Vertiv to $98 and $100, respectively.

Portfolio Pulse from Avi Kapoor

April 25, 2024 | 1:20 pm

TECK

Teck Resources reported its Q1 2024 adjusted earnings per share (EPS) at C$0.75, missing the estimated C$0.89. Sales for the quarter were C$3.990 billion, also below the expected C$4.091 billion.

Portfolio Pulse from Benzinga Newsdesk

April 25, 2024 | 1:15 pm

TMO

Thermo Fisher Scientific Inc. (TMO) reported better-than-expected Q1 financial results, with revenue of $10.34 billion and adjusted EPS of $5.11, surpassing consensus estimates. The company also raised its FY24 guidance, boosting sales forecasts to $42.3 billion-$43.3 billion and adjusted EPS guidance to $21.14-$22.02. Following the announcement, Baird and JP Morgan revised their price targets on TMO, with Baird slightly reducing theirs to $620 and JP Morgan increasing theirs to $650. TMO shares rose 0.5% to close at $577.39.

Portfolio Pulse from Avi Kapoor

April 25, 2024 | 1:14 pm

BC

Brunswick Corporation (NYSE:BC) shares fell over 2% in premarket trading after reporting Q1 earnings. Earnings per share were $1.35, matching analyst expectations, with revenues of $1.365 billion, also in line with forecasts. However, sales dropped 22% from the previous year due to lower wholesale ordering and higher discounts. Operating earnings decreased by 53% due to lower sales, higher input costs, and unfavorable currency exchange rates. The company completed a $400 million debt issuance to refinance near-term debt, improving its cash position to $560.3 million. Brunswick reiterated its FY24 net sales outlook of $6.0 to $6.2 billion and adjusted EPS of $7.00 to $8.00.

Portfolio Pulse from Nabaparna Bhattacharya

April 25, 2024 | 1:14 pm

TXT

Textron shares are trading lower following the announcement of worse-than-expected Q1 financial results.

Portfolio Pulse from Benzinga Newsdesk

April 25, 2024 | 1:13 pm

UNP

Union Pacific shares are trading higher following the announcement of better-than-expected Q1 results.

Portfolio Pulse from Benzinga Newsdesk

April 25, 2024 | 1:12 pm

CHE

Chemed shares are trading lower following the announcement of Q1 financial results that did not meet expectations.

Portfolio Pulse from Benzinga Newsdesk

April 25, 2024 | 1:11 pm